Social media analytics is a process utilized to collect data from various social media websites and analyze the collected data with the help of social media analytics tools to make business decisions. Social media analytics is used in several functions; however, the primary use of the technology is to extract customer sentiments to align marketing and customer service activities. Some of the key drivers drive the growth of the social media analytics market growth all over the world. One of the significant drivers is the rising number of social media users. With the surging number of social media users, the business is adopting social media analytics as a tool to reach their audience, and in this way, the social media analytics market is expanding. Moreover, the competition is rising for businesses and they are detecting new ways to minimize their expenses. Companies require the business information, coupled with customers’ data, and find out regarding their customers. Customers nowadays are demanding higher quality of products and services at lesser prices and rapid delivery. Analytics is assisting business to attain their goals. Social media analytics helps in analyzing the unorganized data to respond to dynamic markets to obtain high sales and profit. Businesses can utilize social media analytics to enhance their market presence and to obtain customer reviews, and this is another driver which is propelling the social media analytics market. On the other hand, the complexities in the analytical workflow will hamper the market growth.

Furthermore, the cloud technology deployment has increased in the past few years. The providers are always seeking to make sure they are offering effectual and economical solutions. It is projected that cloud computing to increase at a higher rate in the coming years owing to its range of features, pliability and less costs. Vendors are deploying the SaaS model to offer social media analytics over the cloud which provides huge opportunities for the market. In addition to the rising adoption of social media analytics among small and medium-sized enterprises will create opportunities for social media analytics market expansion.

The global Social Media Analytics Market is segregated on the basis of Application as Customer Segmentation & Targeting, Competitor Benchmarking, Multichannel Campaign Management, Customer Behavioral Analysis and Marketing Management. Based on End User the global Social Media Analytics Market is segmented in Media & Entertainment, Travel & Hospitality, IT & Telecom, Retail and Others.

The global Social Media Analytics Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Social Media Analytics Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Oracle Corporation, IBM, Salesforce, Netbase, SAS Institute and others are among the major players in the global Social Media Analytics Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In April 2019, Digimind collaborated with TrustedOut with an objective to improve its decision making for Business Intelligence (BI) analysts, brand safety managers and Public Relations (PR) professionals with the usage of analytical tools from their own set of databases. TrustedOut supports to overcome restrictions of human selection and biases, with the latest advancements in Machine Learning (ML), big data, web crawling and microservices, and provide an always up-to-date, reliable corpus of sources.
• In September 2019, Brandwatch introduced a new consumer insights product called Consumer Research with the objective to offer complete view of customer’s interactions to the agencies, brands and organizations and to understand customers better. Brandwatch has invested USD 50 million to introduce a new product with the AI and ML capabilities.
• In October 2019, Cision acquired Unmetric, a social media management solution provider via its division Falcon.io. This acquisition would support Cision in acquiring a new customer base and help present customers for managing their social media listening and engagements.

The global Social Media Analytics Market has been segmented as below:

Social Media Analytics Market, By Application

• Customer Segmentation & Targeting
• Competitor Benchmarking
• Multichannel Campaign Management
• Customer Behavioral Analysis
• Marketing Management

Social Media Analytics Market, By End User

• Media & Entertainment
• Travel & Hospitality
• IT & Telecom
• Retail
• Others

Social Media Analytics Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Social Media Analytics Market, By Company

• Oracle Corporation
• IBM
• Salesforce
• Netbase
• SAS Institute
• Clarabridge
• Talkwalker
• Sysomos
• Gooddata
• Crimson Hexagon
• Adobe
• Brandwatch
• Digimind
• Meltwater
• SpreadFast
• Cision
• Simplify360
• Hootsuite
• Sprout Social
• MetaQuotes Software

The report covers the below scope:

• Global Social Media Analytics Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Social Media Analytics Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Social Media Analytics Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Social Media Analytics Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Social Media Analytics Market share. Major industry players with significant revenue share include Oracle Corporation, IBM, Salesforce, Netbase, SAS Institute and others.

Why to Buy this Report:

• Gain detailed insights on the Social Media Analytics industry trends
• Find complete analysis on the market status
• Identify the Social Media Analytics Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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